Exam 13: Benefits and Services

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Orion is a business software firm based in Atlanta that employs over 400 people. Orion has traditionally provided legislatively required benefits for its employees including Social Security, workers' compensation, and unemployment insurance. In addition, Orion offers employees health and dental insurance. Orion employees work Monday through Friday on a 9 to 5 schedule. Orion's top executives are considering the idea of adding a flexible benefits plan and implementing a flexible work schedule. Which of the following, if true, best supports Orion's decision to offer flextime to its employees?

(Multiple Choice)
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The Consolidated Omnibus Budget Reconciliation Act ________.

(Multiple Choice)
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For individuals born in 1960 or later, the full retirement age for non-discounted Social Security benefits is ________.

(Multiple Choice)
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In most states, workers' compensation benefits have no time limit, so injured employees may receive monetary and medical compensation for the duration of their employment.

(True/False)
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Which of the following provides lower rates for the employer or employee and includes all employees regardless of health or physical condition?

(Multiple Choice)
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The indirect financial and nonfinancial payments employees receive for continuing their employment with a company are called ________.

(Multiple Choice)
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________ seek(s)to enable employees to balance their job and family responsibilities.

(Multiple Choice)
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Federal law requires private sector employers to grant a minimum amount of paid vacation leave.

(True/False)
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Jenny must contribute at least 5% of her annual salary to her pension plan, and her employer contributes a set amount as well. She is given choices regarding how the money is invested. When she retires, the amount she has available will depend on how much she invested herself, and the rate of return on the investments she chose. This pension plan is most likely classified as ________.

(Multiple Choice)
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Which of the following is NOT a true statement about the Protection and Affordable Care Act of 2010?

(Multiple Choice)
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